Electricite de France, which is the largest power company in Europe, plans to remain in Latin America even as the region's currencies have fallen by as much as seventy two percent this year, said Jean-Remy Cauquil, director of the Iberian business.
EDF owns Edenor of Argentina and Light Servicos de Eletricidade of Brazil, among other Latin American assets. It injected a billion dollars into the Brazilian unit in March to pay off debt.
“We plan to stay in Latin America despite the difficulties in Argentina and Brazil,” said Cauquil, who spoke at a press conference to discuss the company's plans in the Iberian Peninsula.
Separately, EDF does not plan changes in the shareholding of Hidroelectrica del Cantabrico, Spain's fourth largest traded generator, Cauquil said. EDF owns thirty four and a half percent of Energie Baden-Wuerttemberg, a German utility that owns 35 percent of Cantabrico. The French utility has no plans to boost its EnBW stake, he said.